Schlumberger Limited. (SLB) Position Lifted by Rathbone Brothers plc
Rathbone Brothers plc increased its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 6.9% during the third quarter, HoldingsChannel.com reports. The fund owned 230,411 shares of the oil and gas company’s stock after buying an additional 14,803 shares during the period. Rathbone Brothers plc’s holdings in Schlumberger were worth $14,037,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in SLB. Fisher Asset Management LLC grew its holdings in Schlumberger by 21,872.1% during the first quarter. Fisher Asset Management LLC now owns 5,868,964 shares of the oil and gas company’s stock worth $380,192,000 after acquiring an additional 5,842,253 shares during the period. Summit Trail Advisors LLC grew its holdings in Schlumberger by 6,833.5% during the first quarter. Summit Trail Advisors LLC now owns 3,457,055 shares of the oil and gas company’s stock worth $3,457,000 after acquiring an additional 3,407,195 shares during the period. Bank of New York Mellon Corp grew its holdings in Schlumberger by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock worth $1,974,805,000 after acquiring an additional 2,188,823 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Schlumberger during the first quarter worth $47,225,000. Finally, Bain Capital Public Equity Management LLC acquired a new position in Schlumberger during the second quarter worth $45,421,000. 78.43% of the stock is currently owned by hedge funds and other institutional investors.
SLB opened at $59.33 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. The firm has a market cap of $84.32 billion, a price-to-earnings ratio of 39.55, a PEG ratio of 5.68 and a beta of 0.93. Schlumberger Limited. has a one year low of $58.30 and a one year high of $80.35.
The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Wednesday, September 5th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 4th. This represents a $2.00 dividend on an annualized basis and a yield of 3.37%. Schlumberger’s payout ratio is 133.33%.
In other news, Director Michael E. Marks bought 8,000 shares of the firm’s stock in a transaction on Thursday, September 6th. The shares were bought at an average cost of $60.31 per share, for a total transaction of $482,480.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is currently owned by insiders.
SLB has been the topic of a number of recent analyst reports. Stifel Nicolaus initiated coverage on Schlumberger in a report on Monday, September 10th. They set a “hold” rating and a $69.00 price objective on the stock. ValuEngine lowered Schlumberger from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Morgan Stanley initiated coverage on Schlumberger in a report on Tuesday, September 18th. They set an “equal weight” rating and a $72.00 price objective on the stock. Jefferies Financial Group dropped their price objective on Schlumberger from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, September 26th. Finally, Credit Suisse Group upped their price objective on Schlumberger from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, July 23rd. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $78.90.
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
Further Reading: How to calculate the intrinsic value of a stock
Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited. (NYSE:SLB).
Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.